2002-55• THE CITY OF CHANHASSEN, MINNESOTA
RESOLUTION NO. 2002-55
AUTHORIZING THE EXECUTION AND DELIVERY OF A JOINT POWERS
AGREEMENT TO FINANCE A PROJECT FOR RIDGEVIEW MEDICAL
CENTER
WHEREAS, the cities of Howard Lake, Minnesota ("Howard Lake"), Chanhassen,
Minnesota ("Chanhassen" or the "City"), Delano, Minnesota ("Deland') and Waconia,
Minnesota (Waconia") are authorized by the provisions of Minnesota Statutes, Sections 469.152
to 469.1651 (the "Industrial Development Act"), to issue revenue bonds for the purpose of
providing funds to finance a project that includes revenue-producing enterprises such as
hospitals, nursing homes and related medical facilities which provide health care services and
other revenue-producing facilities;
WHEREAS, Minnesota Statutes, Section 471.59, as amended (the "Joint Powers Act"),
provides that two or more governmental units, by agreement entered into through action of their
governing bodies, may jointly or cooperatively exercise any power common to the contracting
parties or any similar powers, and that the agreement may provide for the exercise of such
powers by one or more of the participating governmental units on behalf of the other
participating units; and
WHEREAS, Ridgeview Medical Center, a Minnesota nonprofit corporation (the
"Borrower") has requested Howard Lake to issue its tax-exempt revenue bonds, on behalf of
itself and the cities of Chanhassen, Delano and Waconia, and loan the proceeds of such bonds to
the Borrower so that the Borrower may finance a project consisting of the (1) acquisition of land
and construction of an approximately 20,525 sq. ft. facility in Chanhassen, (2) acquisition of land
and construction of an approximately 8,100 sq. ft. facility in Delano, and (3) the equipping of
various clinic sites in Waconia and Howard Lake with computer and diagnostic medical equipment
(the "Project"); and
WHEREAS, upon execution and approval of the Joint Powers Agreement, Howard Lake
will issue its revenue bonds pursuant to the Industrial Development Act and the Bond Resolution
(as defined in the Joint Powers Agreement) and loan the proceeds to the Borrower in order to
finance the Project;
WHEREAS, the proposed revenue bonds to be issued shall not constitute an indebtedness
or pledge the full faith and credit of Howard Lake, Chanhassen, Delano, Waconia, the State of
Minnesota, or any other agency or political subdivision thereof, but shall be payable solely from
the revenues pledged and assigned thereto pursuant to the Bond Resolution; and
• WHEREAS, as required by Section 147(f) of the Internal Revenue Code, as amended (the
"Code"), and the Industrial Development Act, the City Council of the City conducted a public
hearing on the date hereof on the proposal following a notice of such hearing published not less
• than 14 days prior to such date in a newspaper of general circulation in the City; and at such
public hearing all parties who appeared or who submitted written comments were given an
opportunity to express their views with respect to the proposal;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
CHANHASSEN, MINNESOTA that the Joint Powers Agreement in substantially the form
submitted to the City at this meeting is hereby approved, and its execution and delivery in the
name and on behalf of the City by the Mayor and the City Clerk are hereby approved.
BE IT FURTHER RESOLVED, that this approval of this City Council is given for
purposes of Section 147(f) of the Code.
BE IT FURTHER RESOLVED, that the staff and officers of the City are authorized to
provide such certifications as may be reasonably requested with respect to the Joint Powers
Agreement and the revenue bonds.
•
0
•
•
PASSED AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF
CHANHASSEN, MINNESOTA, THIS 24th DAY OF JUNE, 2002.
ATTEST:
C- jjA-
Cit
y Clerk
M 1:882276.01
YES
Jansen
Ayotte
Labatt
Peterson
Boyle
Mayor
MGM
None
ABSENT
None